Beneficiaries of the Students Loan Trust Fund (SLFT) are threatening to embark on a demonstration if funds due them are not released within a week.
The beneficiaries, who come under the umbrella name, 'Aggrieved Students Loan Beneficiaries', have in a press statement expressed disappointment in the delayed disbursement which is having a toll on their academic work.
They have also lamented the grave effects of the late payment meant for the previous and newly-began semesters of the 2019/2020 academic year.
In an interview with Citi News, the Head of Communication for the group, Adjei Shadrack, pleaded with the managers of the fund to do the needful or face their wrath.
“Because they have breached their part of the agreement, if immediate actions are not taken for us to see the monies in our accounts, then all students from both public and private universities and technical universities will move to the streets and demonstrate against the government to register our displeasure.”
SLTF is the state agency responsible for providing financial support and resources for the sound management of the trust for the benefit of students.
The fund is currently facing a myriad of challenges.
It was recently compelled to publicly publish the names of loan defaulters to retrieve monies needed for its operationalization.
Here is the full statement:
STUDENT LOAN TRUST FUND HAS FAILED TERTIARY STUDENTS IN GHANA
“The etymology of Student Loan Trust Fund (SLTF) was that it was established in December 2005 under the trustee incorporation Act 1962 and Act 820 with the main focus and objective of providing financial support and resources for the sound management of the trust for the benefit of students and to help promote and facilitate the national ideals enshrined in the article 28 and 38 of the 1992 constitution.
Pursuant to Article 28 clause 4 and Article 38 clause 1, we think the establishment of this trust fund is not out of order and indeed it's a good cause in the right direction. The recent delay in disbursement of funds from the outfit of SLTF is gradually deepening a lot of wounds, breaking the legs and hearts of vulnerable tertiary students across the country.
We don't think, this fund was created to stage this agenda. The broad picture in which this Trust Fund is creating looks uninspiring and scary but we can not tolerate it anymore as Students. A lot of students, across the length and breadth of this country who are beneficiaries of this Fund, are very very disappointed to the extent that, a lot feel hopeless.
It is indisputable fact that some students have deferred their course, and some too were prevented to take part at the end of semester exams. We the aggrieved beneficiaries of this fund can't afford to end our tertiary education at levels 200 and 300.
The kind of challenges in which we are going through is gradually putting us off from the educational ladder. We can't wait anymore, the time has come, the hour is now, and this is the exact minute for us to fight for our constitutional right. We are sick and tired of the flimsy excuses from the management of this Trust Fund.
We promise them, we will hit the street and exhibit our displeasure to the authorities if the necessary actions are not taken. As an association, we are giving the management of the Student Loan Trust Fund (SLTF), one-week ultimatum to do the needful (disburse the money). We will take this opportunity to appeal to the Minister of State in charge of Tertiary Education, Professor Kwesi Yankah, and the Minister of Education to step in immediately and solve this issue once and for all. We will also urge the Ministry of Finance to do the needful in the coming days because some tertiary students in Ghana are going through hell.”